US Consumers Display Price Sensitivity

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Clik here to view.About two in 5 US consumers would switch from brand name to generic grocery items as a result of a 10-20% price increase, according to an October 2011 survey by Accenture. Data from the “Pricing Shopping Survey” indicates that roughly one in 5 consumers would also make the switch given a price increase of less than 10%. Among US consumers, New Yorkers appear to be the least price-sensitive: 55% would switch to a store label version of a grocery item with a price change of up to 20%, compared to 64% of consumers from the rest of the US (excluding Los Angeles). (more…)